Balance sheet

Arhaus Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on:

Thursday, March 7, 2024

Arhaus, Balance sheet, ARHS, Weather, Investment, Transport, The Nature Conservancy, Growth, Entrepreneurship, Comparable, Omnichannel, E-commerce, Cryptocurrency

BOSTON HEIGHTS, Ohio, March 07, 2024 (GLOBE NEWSWIRE) -- Arhaus, Inc. (NASDAQ: ARHS; “Arhaus” or the “Company”), a rapidly growing lifestyle brand and omni-channel retailer of premium artisan-crafted home furnishings, reported unaudited financial results for the fourth quarter and full year ended December 31, 2023.

Key Points:

Net income as a percent of net revenue decreased 410 basis points to 9.1% in the fourth quarter of 2023, compared to 13.2% in the fourth quarter of 2022.
Adjusted net income was $31 million in the fourth quarter of 2023, compared to $48 million in the fourth quarter of 2022.
Adjusted EBITDA as a percent of net revenue decreased 590 basis points to 14.9% in the fourth quarter of 2023, compared to 20.8% in the fourth quarter of 2022.
The table below presents our expectations for selected full year and first quarter 2024 financial operating results.

W&T Offshore Announces Fourth Quarter and Full Year 2023 Results Including Year-End 2023 Proved Reserves, Provides Guidance for 2024, and Declares Dividend for First Quarter of 2024

Retrieved on:

Tuesday, March 5, 2024

Detailed guidance for the first quarter of 2024 and full year 2024 was also provided, and W&T announced its dividend for the first quarter of 2024.

Key Points:

Detailed guidance for the first quarter of 2024 and full year 2024 was also provided, and W&T announced its dividend for the first quarter of 2024.
We remain committed to enhancing shareholder value and returning value to our shareholders through the quarterly dividend announced in November 2023.
The W&T year-end 2023 proved reserves do not include the 18.7 MMBoe of proved reserves acquired in early January 2024 for $72 million.
W&T’s reserve life ratio at year-end 2023, based on year-end 2023 proved reserves and 2023 production, was 9.7 years.

Hillman Reports Fourth Quarter 2023 Results; Provides 2024 Guidance

Retrieved on:

Thursday, February 22, 2024

Balance sheet, Liquidity, Koch Industries

CINCINNATI, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. ( Nasdaq: HLMN ) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, reported financial results for the thirteen and fifty-two weeks ended December 30, 2023.

Key Points:

CINCINNATI, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Hillman Solutions Corp. ( Nasdaq: HLMN ) (the “Company” or “Hillman”), a leading provider of hardware products and merchandising solutions, reported financial results for the thirteen and fifty-two weeks ended December 30, 2023.
Fiscal 2023 consisted of fifty-two weeks compared to fifty-three weeks during fiscal 2022 and the fourth quarter of fiscal 2023 consisted of thirteen weeks compared to fourteen weeks during fiscal 2022.
"During 2024 Hillman celebrates its 60th year in business - and we expect to continue to take great care of our customers seeing Adjusted EBITDA margins expand and cash flows normalize following a record cash flow year in 2023.
Hillman has provided the following guidance based on its current view of the market and its performance expectations during the fifty-two weeks ended December 28, 2024.

La-Z-Boy Incorporated Reports Third Quarter Results

Retrieved on:

Tuesday, February 20, 2024

Internet, Balance sheet, Weather, Investment, GAAP, Consolidated, La-Z-Boy, Public expenditure, Furniture, Tourism

MONROE, Mich., Feb. 20, 2024 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the manufacture and retail of residential furniture, today reported third quarter results for the period ended January 27, 2024. For the quarter, sales totaled $500 million, a decrease of 13% against a year ago period that benefited from delivery of pandemic related backlog and 5% above the pre-pandemic third quarter of fiscal 2020. Results were impacted by winter weather events in January, which caused temporary shutdowns of our U.S. manufacturing facilities, delivery delays, and reduced store traffic throughout much of the central U.S. Operating margin was 6.5% in the quarter on a GAAP basis and 6.6% on a Non-GAAP basis. Diluted earnings per share totaled $0.66 on a GAAP basis and $0.67 on a Non-GAAP basis.

Key Points:

FY24 Q3 Results versus FY23 Q3:
Consolidated sales in the third quarter of fiscal 2024 decreased 13% to $500 million, primarily reflecting lower delivered unit volume versus last year’s third quarter results that included delivery of backlog but increased 5% versus the most recent pre-pandemic third quarter in fiscal year 2020.
The dividend will be paid on March 15, 2024, to shareholders of record on March 5, 2024.
La-Z-Boy will hold a conference call with the investment community on Wednesday, February 21, 2024, at 8:30 a.m.
This replay will be accessible to callers from the U.S. and Canada at (877) 481-4010 and to international callers at (919) 882-2331.

Modiv Industrial Announces Fourth Quarter and Full Year 2023 Results

Retrieved on:

Monday, March 4, 2024

Modiv Industrial, Inc. (“Modiv Industrial”, “Modiv”, the “Company”, “we” or “our”) (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today announced operating results for the fourth quarter and full year ended December 31, 2023.

Key Points:

Modiv Industrial, Inc. (“Modiv Industrial”, “Modiv”, the “Company”, “we” or “our”) (NYSE:MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate, today announced operating results for the fourth quarter and full year ended December 31, 2023.
Fourth quarter revenue of $12.3 million increased $2.3 million year-over-year, or 23%, excluding the 2022 lease termination fee.
Fourth quarter AFFO of $4.5 million, or $0.40 per diluted share, exceeding street expectations by $0.05 per share.
January 31, 2024, completed the stock distribution of Generation Income Properties, Inc. (NASDAQ: GIPR), common stock to the stockholders of Modiv Industrial.

Merchants & Marine Bancorp, Inc. Announces 2023 Financial Results

Retrieved on:

Tuesday, February 27, 2024

Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reported net income during 2023 of $6.29 million, or $4.73 per share, compared with earnings of $3.14 million, or $2.36 per share, in the prior year.

Key Points:

Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the parent company of Merchants & Marine Bank, reported net income during 2023 of $6.29 million, or $4.73 per share, compared with earnings of $3.14 million, or $2.36 per share, in the prior year.
Loans continued to grow in 2023, although at a slower pace than in recent years, with annual loan growth of 4.81%.
Total interest income for 2023 increased to $31.09 million from $23.78 million in 2022, a lift of 30.73%.
“We are very pleased with our team’s superior performance in 2023, and the strong financial results they produced,” remarked Clayton Legear, the Company’s Chief Executive Officer.

FIS Reports Full-Year 2023 Results, Introduces 2024 Outlook, Raises Future Forward Expectations and Announces $500 Million Increase to Share Repurchase Goal

Retrieved on:

Monday, February 26, 2024

Adjusted EBITDA margin expanded by 270 basis points as compared to the prior-year period to 44.2% primarily driven by cost efficiencies.

Key Points:

Adjusted EBITDA margin expanded by 270 basis points as compared to the prior-year period to 44.2% primarily driven by cost efficiencies.
Adjusted EBITDA margin contracted by 250 basis points over the prior-year period to 53.2% primarily due to lower contribution from higher margin non-recurring revenue.
Fourth quarter revenue decreased by 32% as compared to the prior-year period to $63 million primarily due to the divestitures of non-strategic businesses.
In the quarter, the Company returned $815 million of capital to shareholders through $510 million of share repurchases and $305 million of dividends paid.

Morningstar, Inc. Reports Fourth-Quarter, Full-Year 2023 Financial Results

Retrieved on:

Thursday, February 22, 2024

Cash flows were impacted by items described in the Balance Sheet and Capital Allocation section totaling $90.8 million.

Key Points:

Cash flows were impacted by items described in the Balance Sheet and Capital Allocation section totaling $90.8 million.
Adjusted operating income was $113.0 million in the fourth quarter of 2023, an increase of 70.2% compared with the prior-year period.
Free cash flow increased by 17.2% to $197.3 million for the full year 2023, compared with $168.3 million in the prior year.
Operating cash flow and free cash flow in 2023 were impacted by the termination of the Company's license agreement with Morningstar Japan K.K.

AUTODESK, INC. ANNOUNCES FISCAL 2024 FOURTH QUARTER AND FULL-YEAR RESULTS

Retrieved on:

Thursday, February 29, 2024

SAN FRANCISCO, Feb. 29, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the fourth quarter and full year of fiscal 2024.

Key Points:

The first quarter and full-year fiscal 2025 outlook assume a projected annual effective tax rate of 21 percent for GAAP and 19 percent for non-GAAP results, respectively.
Autodesk will host its fourth quarter conference call today at 5 p.m.
Net revenue retention rate is calculated by dividing the current quarter Recurring Revenue related to base customers by the total corresponding quarter Recurring Revenue from one year ago.
For certain cloud service offerings and EBAs, subscriptions represent the monthly average activity reported within the last three months of the fiscal quarter end date.

KKR’s Henry McVey Says Leading Family Offices Plan to Allocate More to Alternatives in 2024

Retrieved on:

Tuesday, February 13, 2024

“We hear the message ‘Loud and Clear’ that this segment of the market is changing – and for the better,” said McVey.

Key Points:

“We hear the message ‘Loud and Clear’ that this segment of the market is changing – and for the better,” said McVey.
“These investors are diversifying across asset classes, and as they mature, they are getting better at harnessing the value of the illiquidity premium to compound capital.
Family offices are planning to allocate more to Private Credit, Infrastructure and Private Equity at the expense of Public Equities and Cash.
U.S. family offices allocated less to traditional Private Equity compared to counterparts in Latin America, Asia and Europe, while Asia-based family offices had relatively heavy allocations to Real Estate.