Scholastic Corporation (NASDAQ:SCHL) Q2 2025 Earnings Conference Call December 19, 2024 4:30 PM ET Company Participants Jeffrey Mathews - Chief Growth Officer and Executive Vice President Peter Warwick - President and Chief Executive Officer Haji Glover - Chief Financial Officer and Executive Vice President Conference Call Participants Brendan McCarthy - Sidoti Operator Hello, everyone, and welcome to Scholastic Reports Second Quarter Fiscal Year 2025 Results. At this time, all participants are in a listen- ...

Mission Produce, Inc. (NASDAQ:AVO) Q4 2024 Results Conference Call December 19, 2024 5:00 PM ET Company Participants Jeff Sonnek - Investor Relations, ICR Stephen Barnard - Chief Executive Officer Bryan Giles - Chief Financial Officer John Pawlowski - President and Chief Operating Officer Conference Call Participants Ben Klieve - Lake Street Capital Markets Gerry Sweeney - ROTH Capital Partners Operator Good afternoon, and welcome to the Mission Produce’s Fourth Quarter 2024 Conference Call. All participant ...

Financial Data and Key Metrics - Q2 revenues were down 8% on a reported basis and down 9% on a currency-neutral basis, reflecting ongoing headwinds from franchise management actions [31] - Gross margins declined 100 basis points to 43.6% due to higher markdowns on NIKE Direct, wholesale discounts, and channel mix headwinds, partially offset by lower product costs and strategic pricing actions [31] - Earnings per share was $0.78 [31] - NIKE Direct declined 14%, with NIKE Digital down 21% and NIKE Stores down 2%, while wholesale was down 4% [31] - Inventory was flat versus the prior year, with footwear inventory declining and apparel and accessories inventory increasing [33] Business Line Performance - Sport performance field of play grew year-over-year, offset by a double-digit decline in sportswear [35] - Training: men's up high teens, women's up high single-digits, kids up high single-digits [35] - Global Football: men's grew low single-digits, kids grew high teens [35] - Basketball: women's grew strong double-digits, kids grew low teens [35] - Running: men's was flat, women's up low to mid-single digits [36] - Classic footwear franchises decelerated faster than the overall business, with a greater rate of decline in Q2 compared to Q1 [36] Market Performance - North America: Q2 revenue down 8%, NIKE Direct declined 15%, wholesale declined 1%, EBIT declined 10% [37] - EMEA: Q2 revenue declined 10%, NIKE Direct declined 20%, wholesale declined 4%, EBIT declined 10% [39] - Greater China: Q2 revenue declined 11%, NIKE Direct declined 7%, wholesale down 15%, EBIT declined 27% [40] - APLA: Q2 revenue down 2%, NIKE Direct declined 4%, wholesale declined 1%, EBIT declined 12% [41] Strategic Direction and Industry Competition - The company is shifting focus back to sport, leveraging athlete insights to accelerate innovation, design, and product creation [13] - Investments will be rebalanced to empower local teams and create stronger consumer connections in key countries and cities [14] - The company plans to elevate NIKE Direct as a premium destination, focusing on full-price sales and reducing promotional activity [25] - The company is committed to rebuilding trust with key wholesale partners by delivering innovative products and supporting their businesses [26] Management Commentary on Operating Environment and Future Outlook - The company is taking a long-term view, making decisions that prioritize the health of the brand and business, even if they negatively impact near-term results [29] - The company expects Q3 revenues to be down low double-digits, with gross margins down 300-350 basis points, reflecting actions to clean and reset the marketplace [46] - The company is accelerating actions to reposition the business, including reducing promotional activity, liquidating excess inventory, and increasing brand marketing [43][44] Other Important Information - The company is focusing on five key sports: running, basketball, training, football, and sportswear, with a segmented approach by men's, women's, and kids [61] - The company is investing in sports marketing, with recent long-term partnership extensions with the NFL, NBA, WNBA, and Brazil Football Confederation [62] Q&A Session Summary Question: How is the company planning to rebuild relationships with retail partners and regain shelf space? - The company is committed to leading a consumer-led marketplace, delivering innovative products, and supporting wholesale partners to drive mutually profitable growth [54][55] Question: What are the key investments being made to return the brand to growth? - The company is focusing on sport-led product innovation, increasing brand marketing, and empowering local teams in key countries and cities [60][61] Question: How will the company manage near-term financial pressures while making long-term investments? - The company is prioritizing margin health over sales growth in the near term, with actions to clean up inventory and reposition the marketplace expected to create short-term headwinds [71][76] Question: What is the timeline for returning to sustainable, profitable growth? - The company expects to see the impact of its actions over the next 18-24 months, with a focus on returning to a healthy, full-price marketplace and driving long-term growth [80][84] Question: What are the specific actions being taken in North America and Greater China? - In North America, the company is resetting NIKE Direct, investing in running specialty, and leveraging key sports moments to drive growth [96] - In Greater China, the company is focusing on product innovation, local product creation, and resetting the marketplace to drive long-term growth [98]

Mobix Labs, Inc. (NASDAQ:MOBX) Q4 2024 Earnings Conference Call December 19, 2024 5:00 PM ET Company Participants Lori Barker - IR Fabian Battaglia - CEO Keyvan Samini - President and CFO Conference Call Participants Kevin Cassidy - Rosenblatt Securities Operator Good afternoon. Thank you for standing by. And welcome to Mobix Labs Inc. Fiscal Fourth Quarter and 2024 Financial Results Conference Call. Please be advised today's conference is being recorded and a replay will be available on Mobix's Investor Re ...

FactSet Research Systems Inc. (NYSE:FDS) Q1 2025 Earnings Conference Call December 19, 2024 11:00 AM ET Company Participants Yet He - Head of IR Philip Snow - CEO Helen Shan - CFO Goran Skoko - CRO Conference Call Participants Alex Kramm - UBS Shlomo Rosenbaum - Stifel Kelsey Zhu - Autonomous Faiza Alwy - Deutsche Bank Ashish Sabadra - RBC Scott Wurtzel - Wolfe Research Jeffrey Silber - BMO Capital Markets Toni Kaplan - Morgan Stanley Owen Lau - Oppenheimer Manav Patnaik - Barclays Andrew Nicholas - William ...

Lennar Corporation (NYSE:LEN) Q4 2024 Results Conference Call December 19, 2024 11:00 AM ET Company Participants David Collins - Vice President & Controller Stuart Miller - Executive Chairman & Co-Chief Executive Officer Jon Jaffe - Co-Chief Executive Officer & President Diane Bessette - Chief Financial Officer Fred Rothman - Chief Operating Officer Marshall Ames - Chairman, Lennar Charitable Foundation Conference Call Participants Alan Ratner - Zelman & Associates Michael Rehaut - JP Morgan Stephen Kim - E ...

Paychex, Inc. (NASDAQ:PAYX) Q2 2025 Earnings Conference Call December 19, 2024 9:30 AM ET Company Participants Bob Schrader - CFO John Gibson - President and CEO Conference Call Participants Mark Marcon - Baird Bryan Bergin - TD Cowen Ramsey El-Assal - Barclays Andrew Nicholas - William Blair Michael Infante - Morgan Stanley Bryan Keane - Deutsche Bank Kevin McVeigh - UBS Ashish Sabadra - RBC Capital Markets Kartik Mehta - Northcoast Research Scott Wurtzel - Wolfe Research Jason Kupferberg - BofA Securities ...

Cintas Corporation (NASDAQ:CTAS) Q2 2025 Results Conference Call December 19, 2024 10:00 AM ET Company Participants Jared Mattingley - Vice President, Treasurer, and Investor Relations Todd Schneider - President and Chief Executive Officer Mike Hansen - Executive Vice President and Chief Financial Officer Conference Call Participants Tim Mulrooney - William Blair Andrew Steinerman - JPMorgan Securities Jasper Bibb - Truist Securities Manav Patnaik - Barclays Josh Chan - UBS George Tong - Goldman Sachs Shlom ...

Financial Data and Key Metrics - Adjusted EBITDA for Q2 2025 was $30.6 million, up from $23 million in the prior year quarter [8] - Earnings per share (EPS) for Q2 2025 was $0.25, compared to a loss of $0.12 per share in the same period last year [8] - Net sales for the quarter were $739 million, down 9% from the prior year quarter due to lower volumes and lower average selling prices [35] - Shipments for the quarter were 936,000 tons, down 3% year-over-year [35] - Cash flow from operations was $68 million, and free cash flow was $33.2 million [42] Business Line Performance - Automotive market shipments were down 2% year-over-year, with a significant 30% decrease in volume from one major OEM customer [36][37] - Construction market volumes decreased by 20% year-over-year, influenced by a shift in market mix and unexpected automotive order cuts [40][41] - Heavy truck market is expected to remain slow in the first half of 2025 but could see growth in the second half due to regulatory changes [23] Market Performance - The US automotive market showed positive signs in November, with overall vehicle sales reaching their highest levels since May 2021 [22] - The construction market is expected to see moderate growth in 2025, particularly in data centers and manufacturing sectors [23] - Europe remains a high-growth market for electric vehicles, with 80% of vehicles produced expected to be battery electric or hybrids by 2030 [11] Strategic Developments and Industry Competition - The company announced the acquisition of a 52% stake in Sitem Group, strengthening its presence in Europe and expanding its electrical steel lamination business [11][12] - The company continues to implement its transformation strategy, focusing on continuous improvement in quality, service, and cost efficiency [14][15] - Worthington Steel was recognized as a military-friendly employer for the 10th consecutive year and included in Computerworld's list of Top Places to Work in IT [18][19] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism for the automotive market, expecting OEMs to adjust their commercial strategies and rebuild market share [21][61] - Lower interest rates and decreasing inflation are expected to provide positive momentum for the construction market [23] - The company remains positive about its long-term prospects, citing strong customer relationships, an experienced leadership team, and a sound strategy [24] Other Important Information - The company released its first Corporate Citizenship and Sustainability Report, highlighting achievements in safety, carbon emissions reduction, and community support [17] - A new member, Scott Kelly, was added to the Board of Directors, bringing expertise in operations and the energy industry [20] - Capital expenditures for fiscal 2025 are expected to increase to $125 million, up from the previous estimate of $110 million, due to timing changes and additional projects [43][44] Q&A Session Summary Question: What caused the significant drop in EBITDA per ton, and when will profitability return to previous levels? - The drop was primarily due to unexpected volume declines, increased SG&A expenses (including bad debt and professional fees), and underperformance at Serviacero [54] - Management expects profitability to stabilize as the automotive market recovers and the company adjusts to the current challenges [61] Question: What are the implications of potential US trade policy changes under a new administration? - The company does not expect significant disruptions from potential tariffs, as it sources locally and has operations in Canada and Mexico that mitigate risks [71] - Management believes that any trade policy changes will likely be negotiated without major disruptions to the North American supply chain [71] Question: Are there any signs of recovery in the company's end markets? - Management sees cautious optimism in the automotive market, with potential recovery in the latter half of 2025 driven by lower interest rates and regulatory changes [74][75] - The construction market is expected to see moderate growth, while the heavy truck market may pick up later in the year due to regulatory changes [74]

Enerpac Tool Group Corp. (NYSE:EPAC) Q1 2025 Earnings Conference Call December 19, 2024 8:30 AM ET Company Participants Travis Williams - Senior Director, Investor Relations Paul Sternlieb - President & Chief Executive Officer Darren Kozik - Chief Financial Officer Conference Call Participants Tom Hayes - CL King Ross Sparenblek - William Blair Steve Silver - Argus Research Operator Ladies and gentlemen, thank you for standing by. Welcome to Enerpac Tool Group's First Quarter Fiscal 2025 Earnings Conference ...