Capital allocation line

Kohl's Reports Third Quarter Fiscal 2023 Financial Results

Retrieved on: 
Martedì, Novembre 21, 2023
Fashion, Cosmetics, Online Retail, Retail, Discount, Variety, Department Stores, NYSE, Capital expenditure, KSS, Capital allocation line, Partnership, Growth, Rare-earth element, Reinsurance, Music, Security (finance), Commercial property, Sephora

Kohl’s Corporation (NYSE:KSS) today reported results for the third quarter ended October 28, 2023.

Key Points: 
  • Kohl’s Corporation (NYSE:KSS) today reported results for the third quarter ended October 28, 2023.
  • The work we have done in 2023 will continue to build momentum and set us up to be successful in 2024.
  • The dividend is payable December 20, 2023 to shareholders of record at the close of business on December 6, 2023.
  • Forward-looking statements include the information under “2023 Financial and Capital Allocation Outlook.” Such statements are subject to certain risks and uncertainties, which could cause the Company's actual results to differ materially from those anticipated by the forward-looking statements.

SquareWell Partners launches AQTION

Retrieved on: 
Mercoledì, Novembre 15, 2023
Software, Professional Services, Thought Leadership, Environmental Issues, Fintech, Sustainability, Socially Responsible Investing, Technology, Environment, Finance, Consulting, Environmental, Social and Governance (ESG), Capital allocation line, Biodiversity, ESG, Management

On their fifth anniversary, SquareWell Partners (“SquareWell”) launches the AQTION platform.

Key Points: 
  • On their fifth anniversary, SquareWell Partners (“SquareWell”) launches the AQTION platform.
  • Designed by practitioners to deliver intuitive insight and tools, AQTION allows companies to better understand their institutional investors’ expectations on governance and sustainability matters, approach decision-makers directly, and centralize engagement tracking.
  • SquareWell has also positioned its unique advisory capabilities to support on some of the most impactful activism campaigns globally on both the corporate and investor side.
  • Today, SquareWell has strong relationships with corporate and investor clients who benefit greatly from its unique approach and experience which originates from efficiently aggregating timely investor information.

Sleep Number Appoints Two New Independent Directors, Stephen Macadam and Hilary Schneider

Retrieved on: 
Martedì, Novembre 7, 2023
Technology, Men, Retail, Consumer, Home Goods, Online Retail, Luxury, Other Retail, Other Consumer, Specialty, Hardware, Women, Seniors, Consumer Electronics, Strategic planning, Health, Enpro Industries, LifeLock, Cooperation, Sleep Number, Veritiv, Independent Advisory Board for Senate Appointments, Entrepreneurship, Sidley Austin, Chair, Strategic Cooperation Agreement, Wag, Louisiana-Pacific, China Hi-Tech Group Co., Ltd., Sleep, Capital allocation line, Management, Security (finance)

Sleep Number Corporation (Nasdaq: SNBR) today announced that it has appointed Stephen E. Macadam and Hilary A. Schneider to its Board of Directors (the “Board”), effective immediately, expanding the Board to twelve members.

Key Points: 
  • Sleep Number Corporation (Nasdaq: SNBR) today announced that it has appointed Stephen E. Macadam and Hilary A. Schneider to its Board of Directors (the “Board”), effective immediately, expanding the Board to twelve members.
  • In conjunction with the appointments, Sleep Number entered into a cooperation agreement (the “Cooperation Agreement”) with Stadium Capital Management, LLC (collectively with its affiliates, “Stadium Capital”), one of the company’s shareholders.
  • “We are pleased to welcome Steve and Hilary, both accomplished public company executives and directors, to the Sleep Number Board,” said Shelly Ibach, Chair, President, and CEO of the company.
  • Sidley Austin LLP is serving as legal counsel and Spotlight Advisors LLC is serving as financial and strategic advisor to Sleep Number.

Warrior Reports Third Quarter 2023 Results

Retrieved on: 
Mercoledì, Novembre 1, 2023
Natural Resources, Coal, Other Manufacturing, Energy, Steel, Other Natural Resources, Mining, Minerals, Manufacturing, Adjustment, 2021–2023 Warrior Met Coal strike, Pacific Ocean, HCC, Second Amendment to the United States Constitution, NYSE, Policy, Note, Senior, Transport, PLB, Depreciation, Capital expenditure, Retirement, Capital allocation line, Credit, Mine, Sustainability Accounting Standards Board, Action Replay, Offers, Capital, Iron ore, Video game, Security (finance), Arms industry, Bank, Warrior

Warrior Met Coal, Inc. (NYSE: HCC) (“Warrior” or the “Company”) today announced results for the third quarter of 2023.

Key Points: 
  • Warrior Met Coal, Inc. (NYSE: HCC) (“Warrior” or the “Company”) today announced results for the third quarter of 2023.
  • Warrior reported net income for the third quarter of 2023 of $85.4 million, or $1.64 per diluted share, a decrease from net income of $98.4 million, or $1.90 per diluted share, in the third quarter of 2022.
  • The Company reported Adjusted EBITDA of $145.8 million in the third quarter of 2023 compared to Adjusted EBITDA of $171.6 million in the third quarter of 2022.
  • Cost of sales for the third quarter of 2023 were $260.4 million compared to $203.4 million for the third quarter of 2022.

MEI Pharma Enters into Agreement with Anson Funds and Cable Car Capital

Retrieved on: 
Mercoledì, Novembre 1, 2023
Other Professional Services, Pharmaceutical, Finance, Oncology, General Health, Health, Professional Services, Other Health, Security (finance), Cohort, Cable car, HIV disease progression rates, Exercise, Annual general meeting, Capital allocation line, MEI, Patient, Pharmaceutical industry, Holding company, Management, Shareholder

MEI Pharma, Inc. (NASDAQ: MEIP) (the “Company”) and Anson Funds and Cable Car Capital (“Anson and Cable Car”) today announced that they have entered into a cooperation agreement.

Key Points: 
  • MEI Pharma, Inc. (NASDAQ: MEIP) (the “Company”) and Anson Funds and Cable Car Capital (“Anson and Cable Car”) today announced that they have entered into a cooperation agreement.
  • Stockholder Designees Added to the Board: The Company has appointed two directors designated by Anson and Cable Car: Mr. James Flynn and Mr. Taheer Datoo.
  • Additionally, Mr. Steven Wood, as mutually agreed upon by the Company and Anson and Cable Car, has been appointed as an additional MEI stockholder representative designated by the Board.
  • Formation of a Capital Allocation Committee: MEI’s Board has formed a Capital Allocation Committee, comprising five directors including the three new directors.

Morningstar, Inc. Reports Third-Quarter 2023 Financial Results

Retrieved on: 
Mercoledì, Ottobre 25, 2023
Growth, Investment management, DBRS, ADP, LCD, Supplement, Asiapac Books, ESG, Investment, Corporation, Form, GAAP, ABS, AUMA, Writing, PitchBook Data, Balance sheet, Retirement, Acquisition, Capital allocation line, API, Intelligence, S&P Global, Table, CMBS, Intelligence engine, Letter, IPX, Video game, Financial adviser, Clothing, Music, Security (finance), Real estate, Life insurance, Commercial property, Bank, Tourism, Cryptocurrency

Starting with the Company's Form 10-Q for the quarter ended Sept. 30, 2023, the Company will begin to report multiple segments.

Key Points: 
  • Starting with the Company's Form 10-Q for the quarter ended Sept. 30, 2023, the Company will begin to report multiple segments.
  • The Company's quarterly shareholder letter provides more context on its quarterly results and business and can be found at shareholders.morningstar.com.
  • Headcount as of Sept. 30, 2023 decreased 1.3% compared to Sept. 30, 2022, and 4.6% sequentially from June 30, 2023 to 11,566.
  • Going forward, the Company is also evaluating how best to communicate to investors under the new segment reporting framework in future press releases reporting financial results.

Warrior Met Coal Announces Expiration and Results of Concurrent Tender Offers For its 7.875% Senior Secured Notes Due 2028

Retrieved on: 
Venerdì, Settembre 8, 2023
Other Energy, Natural Resources, Coal, Energy, Steel, Other Natural Resources, Mining, Minerals, Manufacturing, 2021–2023 Warrior Met Coal strike, Note, Senior, Repurchase agreement, Tender offer, Expiration date, RP, Capital allocation line, Goldman Sachs, Expiration, Share repurchase, Policy, NYSE, HCC, Offers, Payment, Personal Information Agent, Restricted, Security (finance), Cryptocurrency

The Offers expired at 5:00 P.M., New York City time, on September 7, 2023 (such date and time, the “Expiration Date”).

Key Points: 
  • The Offers expired at 5:00 P.M., New York City time, on September 7, 2023 (such date and time, the “Expiration Date”).
  • As of the Expiration Date, $200,000 aggregate principal amount of the Notes were validly tendered and not validly withdrawn pursuant to the Restricted Payment Offer.
  • King & Co., Inc. acted as the Tender Agent and Information Agent with respect to the Restricted Payment Offer.
  • As of the Expiration Date, $294,770,000 aggregate principal amount of the Notes were validly tendered and not validly withdrawn pursuant to the Tender Offer.

AIR Communities Announces CIO Transition

Retrieved on: 
Mercoledì, Agosto 30, 2023
Commercial Building & Real Estate, Construction & Property, Building Systems, REIT, Avesta, Partners Group, George Mason University, Investment, AIR, Harvard Law School, Community, Capital allocation line, Management

Apartment Income REIT, Corp. (“AIR,” “AIR Communities,” or the “Company”) announced today that John McGrath, Executive Vice President of Strategy, Capital Allocation, and Co-Chief Investment Officer will leave the Company effective September 30, 2023.

Key Points: 
  • Apartment Income REIT, Corp. (“AIR,” “AIR Communities,” or the “Company”) announced today that John McGrath, Executive Vice President of Strategy, Capital Allocation, and Co-Chief Investment Officer will leave the Company effective September 30, 2023.
  • Josh Minix, Executive Vice President and Co-Chief Investment Officer since 2021, will take sole responsibility for AIR’s investment function effective that same date.
  • Terry Considine, AIR’s CEO, thanked Mr. McGrath for his many contributions to AIR.
  • John and Josh led a substantial upgrade to the AIR portfolio.

Warrior Met Coal Announces Launch of Concurrent Tender Offers For its 7.875% Senior Secured Notes Due 2028

Retrieved on: 
Mercoledì, Agosto 9, 2023
Mining, Minerals, Manufacturing, Coal, Energy, Natural Resources, Steel, Repurchase agreement, Tender offer, Expiration date, RP, Sale, Capital allocation line, Goldman Sachs, Expiration, Tender, Policy, Payment, Personal Information Agent, Security (finance), Cryptocurrency, Note, Holder in due course, Restricted, Indenture

If the aggregate principal amount of Notes tendered in the Restricted Payment Offer is less than $302,618,000, then the Company will repurchase less than $150,000,000 aggregate principal amount of Notes in the Restricted Payment Offer.

Key Points: 
  • If the aggregate principal amount of Notes tendered in the Restricted Payment Offer is less than $302,618,000, then the Company will repurchase less than $150,000,000 aggregate principal amount of Notes in the Restricted Payment Offer.
  • The Restricted Payment Offer is not conditioned upon the Tender Offer and the Tender Offer is not conditioned on the Restricted Payment Offer.
  • The Restricted Payment Offer is being made only by means of the Restricted Payment Notice and Offer to Purchase (the “Restricted Payment Offer Document”), which contains the complete terms and conditions of the Restricted Payment Offer.
  • Holders should carefully read the Restricted Payment Offer Document before any decision is made with respect to the Restricted Payment Offer.

Manitex International Reports Second Quarter 2023 Results

Retrieved on: 
Giovedì, Agosto 3, 2023
Manufacturing, Other Construction & Property, Machinery, Construction & Property, Machine Tools, Metalworking & Metallurgy, Momentum, Partnership, International, MNTX, GAAP, ERP, Steel, Capital allocation line, ABM, EBITDA, Acquisition, Investment, Mining, Lifting, Appendix, Growth, Adjustment, Real estate, Renewable energy, Video game, Management

Manitex International, Inc. (Nasdaq: MNTX) ("Manitex" or the "Company"), a leading international provider of truck cranes, specialized industrial equipment, and construction equipment rental solutions to infrastructure and construction markets, today reported financial results for the three months ended June 30, 2023.

Key Points: 
  • Manitex International, Inc. (Nasdaq: MNTX) ("Manitex" or the "Company"), a leading international provider of truck cranes, specialized industrial equipment, and construction equipment rental solutions to infrastructure and construction markets, today reported financial results for the three months ended June 30, 2023.
  • Lifting Equipment Segment revenue was $66.3 million in the second quarter 2023, an increase of 4.6%, versus the prior-year period, or an increase of 8.7% when excluding the impact of truck chassis sales in the quarter.
  • As a result of these factors, gross profit margin increased 250 basis points to 20.3% during the second quarter 2023.
  • Net leverage was 3.3x at the end of second quarter 2023, down from 3.9x at the end of fourth quarter 2022.